Answer the Question by TRUE or FALSE (Part 1) Question 1 Do I need a business plan when Starting a Business Answer Question 2 A written business plan is a tangible motivator for the entrepreneur Answer Question 3 SWOT analysis is a type of personality test used to screen job applicants Answer Question 4 The four marketing elements are product, position, price, and promotion Answer Question 5 An entrepreneur owns, operates, and takes the risk of a business venture Answer Question 6 A customer profile should include psychographic data about the customer, but demographic data are not needed because opinions and lifestyle habits are the most important characteristics of customers Answer Question 7 A business plan may help to convince suppliers to extend credit to your company Answer Question 8 Lenders want to know exactly where your business will be because the location of a business is often a critical factor in its success Answer Question 9 A reasonable business plan should be a minimum of 50 pages in length Answer Question 10 The business plan is a tool that consultants use for understanding a company and its problems Answer Question 11 When describing your product, it's best to emphasize on its features and the benefits from the client perspective Answer Question 12 The primary goal of the marketing plan is to communicate with your target market and to convince them to buy your product or service Answer Question 13 A good advertising and promotional plan are one that is focused and delivers your unique selling proposition to your target market Answer Question 14 Your marketing plan should describe how will you segment your target market, how you will position your product or service compared to your competition, what price strategy will be and how you will effectively reach and influence your customer

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Question: Answer the Question by TRUE or FALSE (Part 1) Question #1: Do I need a business plan when Starting a Business? Answer: Question #2: A

Answer the Question by TRUE or FALSE (Part 1)

Question #1:	Do I need a business plan when Starting a Business?
Answer:

Question #2:	A written business plan is a tangible motivator for the entrepreneur.
Answer:

Question #3:	SWOT analysis is a type of personality test used to screen job applicants.
Answer:

Question #4:	The four marketing elements are product, position, price, and promotion
Answer:

Question #5:	An entrepreneur owns, operates, and takes the risk of a business venture
Answer:
Question #6:	A customer profile should include psychographic data about the customer, but demographic data are not needed because opinions and lifestyle habits are the most important characteristics of customers
Answer:

Question #7:	A business plan may help to convince suppliers to extend credit to your company
Answer:

Question #8:	Lenders want to know exactly where your business will be because the location of a business is often a critical factor in its success.
Answer:

Question #9:	A reasonable business plan should be a minimum of 50 pages in length.
Answer:

Question #10:	The business plan is a tool that consultants use for understanding a company and its problems.
Answer:

Question #11:

When describing your product, it's best to emphasize on its features and the benefits from the client perspective.

Answer:

Question #12:

The primary goal of the marketing plan is to communicate with your target market and to convince them to buy your product or service.

Answer:

Question #13:

A good advertising and promotional plan are one that is focused and delivers your unique selling proposition to your target market.

Answer:

Question #14:

Your marketing plan should describe how will you segment your target market, how you will position your product or service compared to your competition, what price strategy will be and how you will effectively reach and influence your customer.

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